Let’s Talk About Retirement

dani_CH asked:


I have it in a low cost SP 500 Growth Index Mutual Fund. I hope to be retiring in 5 to 8 years. I have other retirement accounts with my current employer.

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Susan Stuart asked:


North American retirees and seniors are embracing computers and technology in increasing numbers. It may be only to keep in regular contact with family and friends over long distances and share photos of their winter cruise. However, unlike their younger counterparts, they are less likely to take precautions against threats to their digital data.

In Canada, research by the federal government reveals that older adults are the fastest growing group of computer buyers and Internet users. In 1999, one quarter of households headed by a person 55-64 years old used the Internet from home. In the 65 and over age group, 10 per cent did. In fact, Internet use in the 65 and over age group is growing faster than in all other age groups.

Meanwhile, according to research by the PEW Internet & American Life project, 22 per cent of Americans 65 and older use the Internet, and the percentage of seniors who go online jumped by 47 per cent between 2000 and 2004. In January 2006, PEW found 34 per recent of Americans age 65 and older go online, up from 29 per cent in January 2005. That being, said, just 28 per cent of Americans age 70 and older go online – almost same percentage as the year before.

The most interesting and dynamic segment is the recent retirees or those approaching retirement in their 50s or 60s. They are unlikely to give up their wired ways and therefore will transform the wired senior stereotype. As this “silver tsunami” of Internet-loving Baby Boomers swamps the off-line senior population in the next 10 years, PEW predicts the demographic shift, paired with a rising tide of viruses, spyware, and other online threats, is cause for concern.

Retirees and seniors place themselves at greater risk of losing precious information stored on their computer. Just as many retirees who can’t immediately recall something may blame it on a so-called “senior’s moment”, it’s not just humans–young or old–who sometimes cannot recall the information stored in their “brains.” When computers cannot recall or access the files electronically stored on them, computer users often panic.

That digital information could be e-mail messages sent and received, income tax returns prepared but not yet filed, the household budget maintained in a spreadsheet, a letter written to a municipal counselor protesting illegal parking on the street, research conducted on the family tree, or the expanding collection of photographs of grandchildren.

There are numerous causes of data loss:

• You experience power interruptions, power surges or a blackout causing your computer to shut down unexpectedly

• Your computer experiences a mechanical failure

• Your computer is contaminated with a virus or bug after a file is downloaded from the Internet

• Your software no longer works as it should

• Your saved information is deleted accidentally

• Your computer won’t start up and only the infamous blue screen of death is visible on your screen.

Any and all of the aforementioned problems can cause digital information loss. These problems can be all but eliminated by taking a number of precautions to prevent the loss of important files:

• Regularly backup your data and check to make sure the backup information can be retrieved

• If possible, store your backups somewhere away from your home like a safety deposit box

• Buy USB drives for your kids or grandkids and save a copy of the photos to this small storage device and provide one to each of them

• Use anti-virus software and update it frequently to scan and screen all incoming e-mails especially those jokes that your brother-in-law keeps sending you with attachments

• Use power surge protectors since a power fluctuation can disrupt software, erase valuable data and damage the hard drive

• Maintain your computer in a dry, controlled environment free from dust

• Turn off your computer immediately if it makes any unusual noise.

If you’re not comfortable with technology and prefer not to attempt recovery of your data with a Do-It-Yourself solution, you could ask your computer-savvy relative or friend to assist you. Or, you can seek the assistance of a data recovery specialist who can come to the rescue of your irreplaceable digital information.

Don’t let digital aches and pains get you down. Enjoy the Cyber Years.

http://www.cbltech.com



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Don F asked:


I am 62 and thinking about semi-retiring. I would like information concerning mortgage loan originators. How much do they make on average? Do you have to work for a bank or other lender or can you work freelance? How do you obtain the necessary training?

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Luke asked:


Do you have to retire when your 30 years are up?

What age do they force you to retire because they think your old?
I mean for combat mission guys as well as normal jobs an awnser for both would be nice

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Neil_R asked:


My mother is retiring next year.

What can she do now, within the UK personal finance spectrum (savings schemes, tax credits, pension scheme tricks and tips, discount schemes for pensioners) that will mean she can enjoy a nice lump sum on retirement?

She worked for the NHS for a time, but now works in a private health care and I’m pretty sure she has a private pension scheme too. Does that change things?

All answers ABOVE BOARD please! :o]

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cutemountaingirl76 asked:


I have a set of wall hangings and I’m trying to find what year they were put out but I can’t find anything on the internet.

Kansieo.com

Larry Klein asked:


Under the Pension Protection Act of 2006, there are some new items beneficial to IRA owners that the average IRA owner will miss:

First, if you leave your employer and you had a tax sheltered annuity (typically the type of plan at school districts and governments), you can roll both the pre-tax and after-tax amounts to an IRA. That way, the whole account can continue to grow tax deferred.

Next, the silly requirement to first roll your company account into a regular IRA and then into a Roth IRA has been dropped. Under the new rule, when you retiree, you can roll your company account directly into a Roth IRA (of course, you pay the income tax due and then the Roth will grow tax free). This is effective January 1, 2008.

The nonsensical prior rule that a non-spouse beneficiary of a company plan could not roll over the money had been dropped. Here’s an example. Dad worked for Chevron. He listed his son as beneficiary on his 401k. If Dad dies, the son can now do a trustee-to trustee transfer of Dad’s account into an inherited IRA. Previously, only a spouse could move money from a deceased’s 401k into an inherited IRA or their own IRA. The non-spouse beneficiary still cannot take possession of the money or else it will be taxed—there is no 60 day rollover provision.

There’s more good news about the above. Let’s say Dad died in 2003 and the son was subject to the 5 year rule which required that the IRA be emptied by 2008. Now, the son can just do the rollover in 2007 (the rule is effective January 1, 2007) and take advantage of the new rule even though Dad dies a while back.

If you’re charitably inclined, it has always made sense to give IRA funds or retirement finds to charity. Since each dollar in a retirement plan is only worth 65 cents (after an assumed 35 cent tax), it’s always made sense to give retirement funds rather than non-retirement funds to charity. Previously, if you wanted to give a lifetime gift of your IRA funds, you needed to include the distribution from your IRA on your tax return and then show a charitable deduction. For limitation reasons, this was not always favorable.

Now, you can distribute up to $100,000 directly to a public charity and not show it on your tax return, provided you are also past age 70 ½ (this does not apply to transfers to foundations, donor advised accounts or charitable remainder trusts—only outright gifts to public charities). You would not show the IRA distribution or the charitable deduction.

This is really a rule for seniors because you must be age 70 ½ to use it and it helps people, typically seniors, that have the following issues/limitations: helps people who could not previously make full immediate use of the charitable deduction because of the 50% of AGI limitation, those who paid tax on social security income, those who had a limit on their itemized deductions and those that did not itemize deductions.

The best news is that these transfers to charity count toward the taxpayer’s required mandatory distribution. One more good thing—these transfers to charity are exempt from the normal “pro-rata” rule. Therefore, if the taxpayer has after—tax funds in their IRA, the transfers to charity are only from pre-tax funds and will not affect basis in the IRA. Beware, this rule is immediately effective and set to expire at the end of 2007!

Last, good for seniors, starting in 2010, the $100,000 MAGI limitation on Roth conversion is repealed. Therefore, retirees, for whom Roth conversions are most appealing, will be able to do a Roth conversion without limitation and also spread the tax so that half is paid in 2011 and half in 2012.

You can get a complete education when you attend the Advanced IRA Rollover and Distribution Training in Orlando. Details at www.iraexpert.net



retirees

someones fairy asked:


Because I need to hire one.It all depends to on were your at.I know I just opened pandoras box .But what the hey!Tell me if you can or give me some web sites.And no nudys please!
Thanks John Ringo!

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Kinan Beck asked:


“Two news items suggest Austin, Texas might be a hot market for two very diverse types of residents: retirees and entrepreneurs. KBS Real Estate Investment Trust has recently acquired nine Class-A office, warehouse, and distribution properties totaling two million-square feet. One of the properties is in the Dallas-Fort Worth region, and one is in the Round Rock, Texas region. The rest of the properties are located outside of Texas.

Of these properties, the largest property that KBS Real Estate Investment Trust purchased is situated in Round Rock. The enormous Crystal Park II industrial building boasts over 240,000-square-foot of space in the 38-acre Crystal Park complex situated at Old Settlers Boulevard and Greenhill Drive, near I-35. The Corporate Express building is a Class B flex building, slightly more than 131,000-square-feet. Located at 2230 Avenue J in Arlington, the building is in the highly desirable Dallas-Fort Worth region. California-based KBS purchased the portfolio of properties from Minneapolis-based Opus Corp. for a reported $124.5 million. The seller was represented by CB Richard Ellis. So far, no official reports have been made about what may be done with the properties. However, KBS will likely continue to rent the highly desirable properties to business tenants. All the buildings in the portfolio — including the Texas holdings — have excellent occupancy rate. In fact, Crystal Park II was 73% leased out to various tenants at the time that the KBS deal was made. The Corporate Express building is completely leased by Corporate Express. KBS may be looking to attract more businesses to the Crystal Park II building.

In addition to the businesses and business tenants so obviously eager to rent in the Texas area, a new study by AARP The Magazine has found to that Austin is in the top four cities in the country to watch for being retirement-friendly. The magazine determined retirement-friendly cities by looking at expanded sidewalks, mixed-use housing, good quality health care, and quality mass transit systems. Using this criteria, the magazine found that the Texas capital city provided excellent quality of life to residents over the age of 50 and would in fact tend to attract those types of residents. The magazine reports that this age group will likely grow by 32% in the next decade and a half, so entrepreneurs in the area may wish to cater to retirees and boomers as well as to businesses. The magazine also reported that other top communities to watch for being retiree-friendly included Burlington in Vermont, Mankato in Minnesota, and Traverse City in Michigan. Retirees considering moving to the Austin area will be pleased to know that the constant building and expansion in Austin’s downtown district creates more mixed-use properties and properties that are ideal for retirees. The fact that Austin’s downtown residential area often includes easy access to clinics, stores, restaurants, and other attractions is surely an attraction as well. In addition, Austin’s mild climate, natural beauty, and easy access to the facilities and continuing education classes at the University of Texas are sure to please those over 50.”



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Heather S asked:


I have a friend who plays minor league baseball and he was placed on restricted retired list. What exactly does that mean?

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